…dividends paid by Troy Resources this decade.
Troy Declares 10th Consecutive Fully Franked Dividend
PERTH, WESTERN AUSTRALIA–(Marketwire – Aug. 10, 2009) –
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Growing junior gold producer, Troy Resources NL (“Troy”) (TSX:TRY)(ASX:TRY) today announced it will pay a fully franked final dividend of 4 Australian cents per share out of profits for the year ended 30 June 2009. The Company is expecting to report an audited net profit after income tax, for the year ended 30 June 2009, approximating AUD 16 million. The record date for the dividend is close of trading on Friday 21 August, 2009 and the payment date is Friday 4 September, 2009.
Commenting on the announcement Troy’s CEO, Paul Benson said: “This is Troy’s tenth consecutive fully franked dividend which is an amazing record for a junior gold producer. The dividend of 4 cents per share represents a yield of 2.3% on Friday’s closing share price. The 2009 financial year was certainly one of building the foundations for the profitable growth of the company which will allow us to continue paying dividends in the future.”
ABOUT TROY RESOURCES
Troy Resources (TSX:TRY)(ASX:TRY) is a dividend-paying junior gold producer, with a clear growth strategy. The Company has two producing gold operations; at Sandstone in Western Australia and the Andorinhas Mine in Para State, Brazil and a gold silver development project “Casposo” in San Juan province, Argentina.
Troy has an experienced Board and management team with a portfolio of successful, fast-track mine development and low-cost operations.
Troy has an annual exploration budget of $5 million and a proven track record in exploration discoveries and strategic acquisitions.
Troy is currently focused on developing its Casposo Project, which it acquired in May 2009. With the acquisition and development of Casposo, Troy is entering a renewed growth phase which will again lift the Company’s annual gold production above 100,000 ounces of gold per annum.
The Company maintains a robust balance sheet, and its current assets are forecast to continue to generate strong cash flow. Troy’s gold production is unhedged; allowing its shareholders access to the full benefit of current and future gold price upside.
With the recent Casposo acquisition, Troy is positioned to continue its path of strong growth and profitable operations and is well on track to achieve its vision of becoming a highly profitable mid-tier gold producer with a portfolio of quality long-life assets.
Troy is a responsible corporate citizen, committed to the best practice of health and safety, environmental stewardship and social responsibility.
ABN 33 006 243 750
FOR FURTHER INFORMATION PLEASE CONTACT:
Troy Resources NL
Mr Paul Benson
Chief Executive Officer
(61 8) 9481 1277
(61 8) 9321 8237 (FAX)